How about a tax that's been tried before, and proven to work?

[JHB]

Since we've had a rash of people plugging for replacing income taxes with consumption taxes, I thought I'd start a thread advocating a tax structure that's out of fashion in Washington these days, but was in effect during the largest expansion of the middle class in history -- a sharply progressive income tax.

Actually tested! Proven effective! Support it today!

[benburch]

1. Maximum tax rate should be 70% over $250,000

And zero below $25,000

[da_chimperor]

3. My problem with that is . . .

I personally think it's messed up for the government to take more than half of what you make per year, no matter how much money you have. I don't really know if it's practical, but replace that 70 with 45 , and I'm in total agreement.

[JHB]

5. It didn't take "more than half"...

...there were always (legal) ways to lower your liability (and the small percent of actual problem cases could be addressed with adjustments, except they were usually too valuable as "poster children" for tax "reform").

And remember, it was never 70% of everything, that was the top marginal rate (i.e., 70% of income over what would be about $2million these days).

[da_chimperor]

9. Ok, it got it

Sure, i'll go for that.

[JHB]

4. Tax facts database

http://taxpolicycenter.org/TaxFacts/tfdb/TFTemplate.cfm

Has list of historical tax rates, comparisons over time and between income levels, etc.

Very useful resource when arguing these tax issues.

[Warpy]

6. And 95% over a million a year

Nobody's worth that kind of money, and a confiscatory tax rate above the level of unconscionable greed would put the brakes on things like the legalized embezzlement known as management salaries, as well as on the professional sports greed.

Shoot, we might be able to afford to take the kids to a ball game on Saturday afternoon!

[JHB]

7. Through the 50's there was an effective limit of 88%...

...which seemed to work...

[Silverhair]

8. No. It didn't. Kennedy campaigned against the stagnant economy.

And once elected the Democrats of that day got rid of the high top end tax rate. And the economy improved greatly.

[JHB]

10. He also campaigned against a missile gap...

Just because someone campaigns on something doesn't make it true (or the sole cause of something).

That tax cut trimmed rates across the board, not just at the top -- although the top did get the largest cuts. Can you show that those gains were primarily because of the cuts at the top, not from those farther down the line?

[punpirate]

2. Rash is the right word...

... for some the stuff being bandied about these days.

[Kanary]

11. Radical concept!

You must be one of them commie simps, you leftist-monger, you. :hi:

I just clicked off another one of those threads at the first post, because I just can't handle hearing more of this kind of talk, especially from "Dems". As one of those on the bottom of the ladder, all this is scaring the heck out of me, and that I just don't need right now. I can't for the life of me understand why more sales tax is so attractive, and why DEMS, of all people, can't grasp why this hurts poor people -- the poorer, the more it hurts.

Just yesterday there was a post about tax credits for low-income people that was being abolished in congress. WHAT THE HELL IS WRONG THAT PEOPLE CAN'T MAKE THAT CONNECTION????

Sorry.... that's how scarey this is to me, personally. :scared:

So, thanks for posting this..... it helps very much to know there is still at least a small pocket of sanity.

:toast:

There will be at least two tax issues on our state ballot this fall that are very worthy, and should be funded. But, because they have been issued in the form of SALES tax, I will vote against them. Poor people are forced into paying for something that they can't even use, for cryinginabucket!!!! We Dems, all of us, need to get a spine, and follow your proposal!

Kanary

[JHB]

12. Glad to be of service, but...

Commie simp nothing! I just want to restore us to the economic system that I grew up with, the one that DEFEATED communism and CREATED opportunities for people because they were well off enough to have those options.

It wasn't perfect and needed plenty of adjustment, but it was a better direction than the celebration of sheer ruthlesness the Republicans (and too, too many Democrats) engage in.

[Kanary]

13. Sorry.... that was a bit of humor that apparently fell flat. (not related

to the tax of the same name.) :)

I guess I omitted an important emoticon. Didn't mean to upset you. Still friends? :hi:

What I was getting at is that what you are proposing is certainly very centrist, and yet, in today's climate, you'd even think it was RADICAL, the reception common-sense proposals get.

sigh......

Restore away, friend! I'm with ya!

:toast:

Kanary

[JHB]

14. No, I got it..

Musta forgot the emoticon myself. All is cool. :pals: :toast: